PPG Industries, Inc. (NYSE:PPG) Shares Acquired by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in PPG Industries, Inc. (NYSE:PPGGet Rating) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 80,366 shares of the specialty chemicals company’s stock after purchasing an additional 3,332 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in PPG Industries were worth $10,533,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PPG. Wellington Management Group LLP raised its stake in PPG Industries by 61.7% in the 1st quarter. Wellington Management Group LLP now owns 13,393,191 shares of the specialty chemicals company’s stock valued at $1,755,445,000 after purchasing an additional 5,109,132 shares during the last quarter. Norges Bank acquired a new position in PPG Industries in the 4th quarter valued at about $275,588,000. First Trust Advisors LP raised its stake in PPG Industries by 280.6% in the 1st quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock valued at $227,393,000 after purchasing an additional 1,279,104 shares during the last quarter. BlackRock Inc. raised its stake in PPG Industries by 3.4% in the 4th quarter. BlackRock Inc. now owns 21,452,009 shares of the specialty chemicals company’s stock valued at $3,699,182,000 after purchasing an additional 698,561 shares during the last quarter. Finally, State Street Corp raised its stake in PPG Industries by 3.0% in the 4th quarter. State Street Corp now owns 11,498,215 shares of the specialty chemicals company’s stock valued at $1,982,752,000 after purchasing an additional 338,189 shares during the last quarter. Institutional investors and hedge funds own 80.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America dropped their price objective on shares of PPG Industries from $172.00 to $161.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Mizuho upped their price objective on shares of PPG Industries from $162.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, July 25th. TheStreet raised shares of PPG Industries from a “c+” rating to a “b” rating in a research note on Monday, September 12th. Redburn Partners raised shares of PPG Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 6th. Finally, Wells Fargo & Company dropped their price objective on shares of PPG Industries from $135.00 to $130.00 and set an “equal weight” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $155.41.

PPG Industries Stock Down 2.5 %

NYSE PPG opened at $117.48 on Friday. The stock has a market cap of $27.61 billion, a PE ratio of 25.76, a P/E/G ratio of 2.46 and a beta of 1.16. PPG Industries, Inc. has a fifty-two week low of $107.06 and a fifty-two week high of $177.32. The business has a 50 day moving average price of $126.19 and a two-hundred day moving average price of $125.43. The company has a quick ratio of 1.02, a current ratio of 1.50 and a debt-to-equity ratio of 1.08.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Tuesday, August 9th. This is a boost from PPG Industries’s previous quarterly dividend of $0.59. PPG Industries’s dividend payout ratio is currently 54.39%.

About PPG Industries

(Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

Featured Stories

Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.